Bendix Commercial Vehicle Systems LLC, Elyria OH, plans to acquire the assets of SmarTire Systems Inc of Vancouver, British Columbia, Canada.
SmarTire develops and markets wireless sensing and control systems and advanced tire-monitoring solutions for commercial vehicles.
The transaction incorporates the company’s assets to become a part of the electronics business unit of Bendix. Proceeds from the sale closing will be held in escrow subject to SmarTire obtaining consent of its shareholders at a meeting to be held in March 2009.